American Century Companies Inc. Acquires 98,084 Shares of HighPeak Energy, Inc. $HPK

Key Points

• American Century Companies Inc. increased its holding in HighPeak Energy, acquiring an additional 98,084 shares, raising its stake by 13.7% to a total of 812,144 shares valued at approximately $10.3 million.
• HighPeak Energy has experienced a stock price decline of 2.4%, with shares currently trading at $7.42 after reporting lower-than-expected earnings and revenue.
• Wall Street analysts have downgraded HighPeak Energy from a "hold" to a "sell" rating, setting a consensus price target of $11.50 for its stock.

American Century Companies Inc. lifted its position in HighPeak Energy, Inc. (NASDAQ:HPK - Free Report) by 13.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 812,144 shares of the company's stock after buying an additional 98,084 shares during the period. American Century Companies Inc. owned about 0.64% of HighPeak Energy worth $10,282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nuveen LLC bought a new position in HighPeak Energy during the first quarter valued at approximately $382,000. Deutsche Bank AG lifted its position in HighPeak Energy by 15.5% during the first quarter. Deutsche Bank AG now owns 23,680 shares of the company's stock valued at $300,000 after purchasing an additional 3,170 shares during the period. Vanguard Group Inc. lifted its position in HighPeak Energy by 10.0% during the first quarter. Vanguard Group Inc. now owns 2,375,805 shares of the company's stock valued at $30,078,000 after purchasing an additional 216,954 shares during the period. GSA Capital Partners LLP lifted its position in HighPeak Energy by 42.3% during the first quarter. GSA Capital Partners LLP now owns 167,864 shares of the company's stock valued at $2,125,000 after purchasing an additional 49,867 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in HighPeak Energy during the first quarter valued at approximately $159,000. Institutional investors own 24.13% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of HighPeak Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, HighPeak Energy currently has an average rating of "Reduce" and a consensus price target of $11.50.

HighPeak Energy Price Performance

Shares of NASDAQ HPK traded down $0.06 during midday trading on Monday, reaching $7.70. The stock had a trading volume of 366,799 shares, compared to its average volume of 606,980. The stock has a 50-day moving average of $8.84 and a 200-day moving average of $10.09. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.82 and a current ratio of 0.87. The company has a market capitalization of $971.20 million, a price-to-earnings ratio of 8.95 and a beta of 1.24. HighPeak Energy, Inc. has a 12-month low of $7.00 and a 12-month high of $16.56.

HighPeak Energy (NASDAQ:HPK - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). The firm had revenue of $200.40 million during the quarter, compared to analysts' expectations of $210.87 million. HighPeak Energy had a return on equity of 7.10% and a net margin of 12.59%.The business's revenue for the quarter was down 27.2% on a year-over-year basis. During the same period last year, the company earned $0.28 earnings per share. As a group, research analysts anticipate that HighPeak Energy, Inc. will post 0.78 EPS for the current fiscal year.

HighPeak Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. HighPeak Energy's dividend payout ratio (DPR) is presently 18.60%.

About HighPeak Energy

HighPeak Energy, Inc, an independent oil and natural gas company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids reserves in the Permian Basin in West Texas and Eastern New Mexico. The company was incorporated in 2019 and is headquartered in Fort Worth, Texas.